S&P 500 Reaches another New Record High

The S&P 500 hit a new record high of 1,808.56 today as investors weighed the timing of stimulus cuts from the Federal Reserve. The previous high was reached Nov. 27. “People are getting more comfortable with the idea of tapering and the concept that the reason for the taper is that the economy is getting stronger,” Walter Todd, chief investment officer of Greenwood Capital Associates LLC in Greenwood, South Carolina, said. “At the end of the day that’s a good thing not a bad thing. For the next week it’s just going to be speculation around the timing.”